The wall Street Journal on Sunday cited sources who told the daily Neiman Marcus is in talks with a Los Angeles-based asset manager and a pension fund to discuss the luxury retailer's exit deal. Ares Management LLP and the Canada Pension Plan Investment Board were reportedly interested in buying the retailer for over USD6 billion. All of the parties were reportedly finalizing the deal, but talks may fall apart at the last minute.
When Associated Press asked Ares, Canada Pension and Neiman Marcus for comment through their representatives, they did not return its messages.
Neiman Marcus, founded in 1907, operates in its 41 stores across the United States as a luxury brand retailer. It also has 35 other shops under the Last Call brand. In 2005, Neiman Marcus was purchased for USD5.1 billion by private equity firms TPG Capital and Warburg Pincus. In late June of this year, the retailer recently filed for an initial public offering (IPO) of its own stock.
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